An agency spent $360 during the first month of the year and $2,880 during the next six months. If the average monthly expenditure for the entire year was $450, what was the average monthly expenditure for the last five months?
Question
An agency spent 2,880 during the next six months. If the average monthly expenditure for the entire year was $450, what was the average monthly expenditure for the last five months?
Solution
To solve this problem, we first need to calculate the total expenditure for the year. We know that the average monthly expenditure for the entire year was 5400.
Next, we subtract the expenditure for the first seven months from the total annual expenditure to find the expenditure for the last five months. The expenditure for the first month was 2880. So, the total expenditure for the first seven months is 360 + 2880 = $3240.
Subtracting this from the total annual expenditure gives us the expenditure for the last five months: 5400 - 3240 = $2160.
Finally, we divide this by the number of months (5) to find the average monthly expenditure for the last five months: 2160 / 5 = $432.
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